Iran’s Bahman Geno has signed a memorandum of understanding with Korea’s Daewoo Engineering and Construction for construction of a 300,000 b/d refinery in Iran’s southern Hormozgan province. Korea’s Hyundai Engineering and Construction is expected to join Daewoo in the project.
Korea’s Yonhap news agency reports that the plant will be built at the port of Jask at an expected cost of $10bn. However, the project under discussion appears to be the Hormuz Extra Heavy refinery, already in the planning queue for state refiner NIORDC, but intended to be built at Bandar Abbas. (CONTINUED - 838 WORDS)
